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The document explains the approval framework, application requirements and supporting materials, application and approval fees, and what makes an application properly filed. It also covers permitted business activities, treatment of close-ended funds, ongoing obligations including financial statements and annual returns, plus renewal of approval and related fees.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/approved-investment-managers-guidelines-amended-and-consolidated-date/500361/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/approved-investment-managers-guidelines-amended-and-consolidated-date/500361.png","ImageObject",300,407,{"name":92,"@type":93},"awa","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-08","2026-10-03",true,{"@type":102,"interactionType":103,"userInteractionCount":29},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"Who needs approval as an Approved Investment Manager in the British Virgin Islands?","Question",{"text":112,"@type":113},"Persons wishing to carry out investment business in or from within the Virgin Islands, including those providing investment management or investment advice for mutual funds and other collective investment schemes, must follow the framework for approval if they qualify under the Regulations.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"What must be included for an application to be considered complete?",{"text":117,"@type":113},"All relevant sections of Form IB-A1 must be completed and submitted, together with all necessary supporting documents, in accordance with the Regulations.",{"name":119,"@type":110,"acceptedAnswer":120},"What ongoing obligations are required after approval?",{"text":121,"@type":113},"Approved Investment Managers must comply with obligations under the Guidelines, including requirements to file annual returns and submit financial statements, subject to exemptions stated in the document.","https://schema.org",{"og:url":83,"og:type":124,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":126,"canonical":83},"index,follow",{"doc_id":128,"site_id":62},500361,1791336156,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":133,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":29,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":139,"language":140,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":67,"update_tm":144,"read_time":26},3985747858093,"https://ap-avatar.wpscdn.com/davatar_3d24733baf745e90a7e4bdd5f77d97b2","BRITISH VIRGIN ISLANDS FINANCIAL SERVICES COMMISSION  \nAPPROVED INVESTMENT MANAGERS GUIDELINES  \n[Amended 24th February, 2014]  \n[Consolidated 25th February, 2014]  \nApproved by the Board of Commissioners ……………………… 30th October, 2012  \nIssued by the Financial Services Commission ……………… 19th November, 2012  \nPublished …………………………………………………… 3rd December, 2012  \nCommencement Date …………………………………………… 10th December, 2012  \nCONTENTS  \nINTRODUCTION …………………………………………………………….……… 4  \nAPPROVAL AS AN APPROVED INVESTMENT MANAGER……...…………… 5  \n1. Application for Approval as an Approved Investment Manager………………. 5  \n1.1 Completing the Application Form……………………………………. 5  \n1.2 Processing of application……………………………………………… 5  \n1.3 Payment of Application Fee…………………………..………..……… 5  \n1.4 Application considered properly filed………………………………... 5  \n1.5 Payment of Approval Fee……………………………………………… 6  \n1.6 Application not considered properly filed…………………………… 6  \n2. Information to be submitted with an application ……………………………… 6  \n2.1 General Information Required……………………………………….. 6  \n2.2 Additional Information……………………………………………….. 7  \n3. Business Activities/Services to be Provided……………………………………. 8  \n3.1 Approved Investment Business Functions…………………………… 8  \n3.2 Qualifying to be treated as a Close-ended Fund…………………….. 8  \n3.3 Close-ended Funds with Characteristics of Private or Professional Funds……………………………………………………………………. 8  \n3.3A Funds Formed in a Recognised Jurisdiction with Characteristics of Private or Professional Funds……………………………………………9  \n3.4 Persons Affiliated with Private Funds, Professional Funds or Close-ended Funds ...…………………………………………………… 9  \n3.5 Persons with Equivalent Characteristics……………………………... 10  \n3.6 Non-Virgin Islands Incorporated Funds Considered Equivalent to Private or Professional Funds……………………………………… 10  \n4. Restrictions ……………………………………………………………………… 11  \n4.1 General Restrictions…………………………….……………………… 11  \n4.2 Restrictions in Relation to Assets Under Management……………… 11  \n5. Assets Under Management…………………………………………………….. 12  \n5.1 Determining Assets Under Management…………………………….. 12  \n5.2 Calculating Assets Under Management ……….…………………….. 12  \n6. Ongoing Obligations…………………………………………………………… 12  \n6.1 General Obligations…………………………………………………… 12  \n6.2 Submission of Financial Statements…………………………………. 13  \n6.3 Exemption from Submitting Financial Statements…………………. 13  \n6.4 Filing of Annual Returns……………………………………………... 14  \n7. Renewal of Approval toAct as an Approved Investment Manager………….……………………………………………………….……. 14  \n7.1 Payment of Renewal Fee……………………………………………… 14  \nSCHEDULE  \nFORM IB-A1: Approved Investment Manager Application Form  \nINTRODUCTION  \nUnder the Securities and Investment Business Act, 2010 (“SIBA”) persons wishing to carry out any form of investment business in or from within the Virgin Islands are required to be licensed by the Financial Services Commission (“the Commission”) . This includes persons providing investment management or investment advice for mutual funds and other collective investment schemes. Once licensed, persons are required to adhere to the tenets of SIBA, the Regulatory Code and all other applicable financial services legislation. The Commission recognises, however, having regard to risk, nature and complexity of certain business activities, that adherence to these provisions, while required by law, is not always practical nor does it achieve any risk reduction from a regulatory perspective.  \n2. The Commission, being cognizant of the need to maintain some flexibility in respect of its investment business regime, without compromising proper and effective regulation, has developed a framework through the Investment Business (Approved Managers) Regulations, 2012 (“the Regulations”) , which establishes a system that will allow investment managers and advisers who meet the established criteria to provide such services through a simple approval process separate and apart from the licensing regime outlined in SIBA.  \n3. Person","cbCaii9pgI1JkTmv","https://ap.wps.com/l/cbCaii9pgI1JkTmv","pdf",442778,24,"English","# INTRODUCTION\n# APPROVAL AS AN APPROVED INVESTMENT MANAGER\n## Application for Approval as an Approved Investment Manager\n## Completing the Application Form\n# Information to be submitted with an application\n## General Information Required\n## Additional Information\n# Business Activities/Services to be Provided\n## Approved Investment Business Functions\n## Qualifying to be treated as a Close-ended Fund","[{\"question\":\"Who needs approval as an Approved Investment Manager in the British Virgin Islands?\",\"answer\":\"Persons wishing to carry out investment business in or from within the Virgin Islands, including those providing investment management or investment advice for mutual funds and other collective investment schemes, must follow the framework for approval if they qualify under the Regulations.\"},{\"question\":\"What must be included for an application to be considered complete?\",\"answer\":\"All relevant sections of Form IB-A1 must be completed and submitted, together with all necessary supporting documents, in accordance with the Regulations.\"},{\"question\":\"What ongoing obligations are required after approval?\",\"answer\":\"Approved Investment Managers must comply with obligations under the Guidelines, including requirements to file annual returns and submit financial statements, subject to exemptions stated in the document.\"}]","APPROVED INVESTMENT MANAGERS GUIDELINES - Amended and Consolidated Date | PDF",1791010760]